Punjab and Sind Bank Fixed Deposit

Punjab and Sind Bank FD Scheme

Last Updated 22nd Jan 2021

Punjab and Sind Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate	3.10% to 5.25%
Minimum Tenure
Maximum Tenure
Deposit Amount
Maximum Deposit

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Punjab and Sind Bank FD

Punjab and Sind Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between to . Apart from that, Punjab and Sind Bank FD offers regular returns on fixed deposit ranging between 3.10% to 5.25%. For senior citizens, the interest rates on fixed deposits range between 3.60% to 5.95%. In addition to that, Punjab and Sind Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

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Types of Punjab and Sind Bank Fixed Deposit Schemes

Different type of Punjab and Sind Bank term deposit products offered to the investors are listed as follows:

Benefits of Punjab and Sind Bank FD

Punjab and Sind Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

Guaranteed returns: The best thing about Punjab and Sind Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, Punjab and Sind Bank offers FD rates up to 5.25%. The interest rates offered on Punjab and Sind Bank FD is not only assured but also way higher than a savings account.
Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, Punjab and Sind Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because Punjab and Sind Bank fixed deposit allows one to borrow a secured loan against Punjab and Sind Bank FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about Punjab and Sind Bank loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.

Loan Against Fixed Deposit

Flexible tenures: Punjab and Sind Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. Punjab and Sind Bank offers fixed deposit for a minimum tenure of up to a maximum tenure of . Punjab and Sind Bank offers different interest rates across FD tenures.
Flexible investment: Apart from the flexibility of tenure, Punjab and Sind Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of . Apart from that, one can invest in the Punjab and Sind Bank FD up to a maximum of .

Premature Withdrawal Terms and Conditions

Though a fixed deposit with Punjab and Sind Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

Withdrawing funds prematurely from Punjab and Sind Bank will attract an interest rate lowered by below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of Punjab and Sind Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

Eligibility Criteria for Punjab and Sind Bank FD

Punjab and Sind Bank FD facility can be availed by the following type of investors:

Indian Citizens
Members of HUFs or the Hindu Undivided Family
Business firms
Local governing bodies
Government departments
Employees of private limited companies
Trust accounts

Documents for Punjab and Sind Bank FD

Punjab and Sind Bank fixed deposit requires one to submit the following documents:

Passport size photographs
Identity proofs such as Aadhar card, passport, PAN card, and driving license.
Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
Bank account details such as passbook and account number.

FAQs

✅What is the loan against FD repayment tenure?

Punjab and Sind Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to .

✅ What is the minimum investment for FDs under Punjab and Sind Bank?

Punjab and Sind Bank FD can be availed with a minimum deposit of .

✅ What is the minimum amount for a fixed deposit in Punjab and Sind Bank?

The minimum amount required for a fixed deposit investment in Punjab and Sind Bank fixed deposit is .

✅ What is the current interest rate on FD in Punjab and Sind Bank?

Currently, Punjab and Sind Bank offers an interest rate ranging between 3.10% to 5.25% on its fixed deposits.

✅ What is the penalty for early withdrawal?

The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

✅ What is the minimum FD tenure for which a fixed Deposit account can be opened in Punjab and Sind Bank?

Punjab and Sind Bank fixed deposit can be opened with a minimum tenure of .

COMPARE DETAILS OF BANKS

Overview	SBIx	HDFC Bankx	ICICI Bankx
Interest Rates (General)	2.90% - 5.40%Details	2.50% - 5.50%Details	2.50% - 5.50%Details
Interest Rates (Senior Citizen)	3.40% - 6.20%	3.00% - 6.25%	3.00% - 6.30%
Highest Rate (General)	5.40% for 5 years to 10 years	5.50% for 5 years 1 day to 10 years	5.50% for 5 years 1 day to 10 years
Fixed Deposit Details
Period of Deposit	7 days to 10 years	7 days to 10 years	7 days to 10 years
Minimum Deposit Amount	Rs. 1,000	Rs. 5,000	Rs. 10,000
Maximum Deposit Amount	No Limit	No Limit	No Limit
Breaking of FD Provision	0.50% to 1%	1%	0.50%-1%
Loan Against FD	Upto 90%	Upto 90%	Upto 90%
Fixed Deposit Features
	Interest on deposit is paid only at the time of the maturity Nomination facility available Extra interest of 0.50 per cent payable to the senior citizens Availability of auto renewal facility on the deposit Earn higher returns on the money deposited	Convenience of booking deposit through netbanking Nomination facility available Earn higher returns on the money deposited Avail sweep in and super saver facility on your deposit Loan facility upto 90 per cent is available on the deposit	Loan facility upto 90 per cent is available on the deposit Nomination facility available Earn higher returns on the money deposited Interest on deposit is paid only at the time of the maturity

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Punjab and Sind News - Jan 2021

2020-12-08 : FD rates for Punjab and Sind Bank changed
Punjab and Sind Bank changed its fixed deposit rates with effect from 6 December 2020. The FD rates for 7 to 45 days is 3.10%, for 46 to 90 days it is 3.90% and it is 4.05 % for 91 to 179 days. Further, the FD rate for 180 to 269 days is 4.45%, for 270 to 1 year is 4.55% and it stands at 5.25% for the above one years to ten years.
2020-10-19 : Revised FD rates for Punjab and Sind Bank
Punjab and Sind Bank changed its fixed deposit rates with effect from 12 October 2020. The FD rates for 7 to 45 days is 3.25%, for 46 to 90 days it is 4% and it is 4.25 % for 91 to 179 days. Further, the FD rate for 180 to 269 days is 4.75%, for 270 to 1 year is 4.85% and it stands at 5.30% for the above one years to ten years.
2020-03-20 : Punjab and Sind Bank revised its FD rates
Punjab and Sind Bank changed its fixed deposit rates with effect from 18 March 2020. The FD rates for 7 to 45 days is 4%, for 46 to 90 days it is 5.50% and it is 5.75 % for 91 to 120 days. The fixed deposit rate for 121 to 179 days is 5.50%. Further, the FD rate for 180 to 364 days is 6%, for one to two years is 6.10% and it stands at 6.10% for above two years to ten years.
2019-12-05 : Punjab and Sind Bank revised FD rates for December
Punjab and Sind Bank changed FD rates on certain tenors with effect from December 2, 2019. The rate has been across a period of 1 year to 2 years, which is revised to 6.45% and for senior citizens at 6.95%. For the rest of the tenors, the rate remains unchanged between 4% to 6.45%.
2019-10-22 : Punjab and Sind Bank revises FD rates for October
Punjab and Sind Bank revised its interest rates on fixed deposits less than Rs 2 crores. The revised FD rates for a period of 7-45 days is 4.00%, for 46-90 days the interest rate is 5.50%, the rate for 91-120 days is 5.75%, for 121-150 days the rate is 6.00%, the rate for 151-179 days is 5.85% and for 180- 364 days the revised rate is 6.40%. For a long period of 1-2 years, the rate is 6.55%, and the rate for 2-10 years is 6.45%.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More

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